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I would agree that there is no better or worse in final product and to each his own, so long as you like it and are happy. But, there are some advantages and disadvantages to each system.

I have...

If you are making customs, I would have to imagine you do some serious honing to form the pre-bevel. I still wouldn't call it bevel setting, though. To me, the bevel is what you create on the 1k or...

Yup, you CAN do it. You could also hone on only a PHIG (you're welcome, Ron :-) ) and get an ebay special shave ready. It's all a question of how long it will take compared to a progressive method....